The result is an improved sales process that will increase placement ratios
and persistency rates while keeping producers satisfied and loyal.
* Reduce the cost of sales by eliminating NIGO submissions, simplifying application processing, reducing cycle times and increasing placement ratios.
Producers using e-apps eliminate point-of-sale mistakes, increase placement ratios and get paid faster.
Help them improve their placement ratios
, assist their agents with prospecting and show them how to increase efficiency and reduce costs."
The pricing trend is moving toward fully underwritten standard pricing, with the direct carriers benefiting from higher placement ratios
due to a much faster and easier process of issuing insurance.
This time savings results in happier clients, higher placement ratios
, decreased costs associated with the reduced number of times we have to follow up and faster commission payments.
But we need to remember that our sales have not only been flat, but our placement ratios
have been dropping over time.
By automating manual processing with a data distribution solution, carriers and stakeholders can improve efficiency, reduce errors and accelerate new business submission, resulting in accelerated quote-to-issue, improved placement ratios
and greater profitability.
Because of duplicate submissions and a decrease in overall placement ratio
, carriers have found it increasingly challenging to stay profitable without putting restrictions on the informal inquiries that they are willing to review.